Render

Kaspa

Rally

Foundation

Polygon

<p>In a concerning development for investors, recent on-chain analysis by SpotOnChain revealed that major Render Network (RNDR) institutional backer Kenetic Capital has exited its position by moving all of its holdings to exchanges.</p>
<h2 class="wp-block-heading" id="largest-institutional-rndr-holder-offloads-all-tokens">Largest Institutional RNDR holder offloads all tokens</h2>
<p>According to tweets by <a href="https://twitter.com/spotonchain/status/1757582462891515935" target="_blank" rel="noopener noreferrer nofollow">SpotOnChain</a>, Kenetic Capital’s wallet address, 0xf26 was the largest institutional holder of RNDR tokens prior to withdrawing all 6.6 million tokens worth $32.5 million to Binance since December 24th, 2023. The VC firm is estimated to have profited $15.95 million from offloading all its RNDR a few hours ago.</p>
<p>This exit comes after Kenetic Capital already deposited another 1 million RNDR tokens worth $4.86 million to Binance on February 5th. In total, since December 24th, the firm has moved 2.5 million tokens to Binance at approximately $4.83 each, totaling $12.06 million.&nbsp;</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="625" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-498-1024x625.png" alt="" class="wp-image-437782" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-498-1024x625.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-498-300x183.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-498-767x468.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-498-1536x938.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-498-2048x1250.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-498-246x150.png 246w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-498-100x61.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-498-573x350.png 573w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-498-788x481.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-498.png 1782w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>The unloading of its full RNDR position signals a clear lack of long-term confidence in the project by a formerly major institutional backer. This will likely negatively impact broader market sentiment and risk further selling pressure.</p>
<p>The price of RNDR witnessed a 1.5% drop in the last 24 hours following the institutional offloading. RNDR had put up a nice surge in the last 30 days, with its token up by almost 28%.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>The key? Getting in early, especially during the IDO phase. <strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow">Get in on NuggetRush</a></strong> now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the<strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"> current ICO prices</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<h2 class="wp-block-heading" id="polygon-foundation-offloads-matic">Polygon Foundation offloads MATIC</h2>
<p>Notably, Kenetic Capital isn’t the only major crypto investor recently moving holdings to exchanges. According to another <a href="https://twitter.com/spotonchain/status/1757582462891515935" target="_blank" rel="noopener noreferrer nofollow">SpotOnChain</a> tweet, wallet address 0x57f linked to the Polygon Foundation deposited 9 million MATIC tokens worth $7.75 million to Binance around 11 hours beforehand.</p>
<p>Overall, there have been two Polygon Foundation connected wallets depositing 15.5 million MATIC to Binance over the past 5 days, for a total of $13.2 million. The price of MATIC has slightly dipped after each large deposit.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="627" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-499-1024x627.png" alt="" class="wp-image-437790" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-499-1024x627.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-499-300x184.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-499-768x470.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-499-1536x940.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-499-2048x1254.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-499-245x150.png 245w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-499-100x61.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-499-572x350.png 572w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-499-788x482.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-499.png 1784w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>This pattern of major project backers unloading tokens to exchanges is concerning for holders. It suggests decreased confidence even among core team members and backers, as they lock in profits regardless of how it may negatively impact rank-and-file investors.</p>
<p>The crypto markets remain fragile as years of loose monetary policy unwind. For RNDR in particular, the loss of a major backer like Kenetic Capital has severely damaged confidence. Unless new long-term buyers emerge, further declines could be in store. Investors would be wise to observe on-chain activity for signals about when insiders are losing faith.</p>
<p>You may also be interested in:</p>
<ul>
 <li><a href="https://captainaltcoin.com/when-will-kaspa-kas-hit-1/" target="_blank" rel="noopener noreferrer nofollow">When Will Kaspa (KAS) Hit $1?</a></li>
 <li><a href="https://captainaltcoin.com/bitcoin-pre-halving-rally-has-begun-but-ethereum-and-altcoins-will-follow-btc-heres-why/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Pre-Halving Rally ‘Has Begun,’ but Ethereum and Altcoins Will Follow BTC – Here’s Why</a></li>
 <li><a href="https://captainaltcoin.com/best-altcoins-to-collect-before-the-bitcoin-halving-which-of-these-altcoins-could-surge-in-2024/" target="_blank" rel="noopener noreferrer nofollow">Best Altcoins to Collect Before the Bitcoin Halving: Which of These Altcoins Could Surge in 2024?</a></li>
</ul>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-nuggetrush-nugx-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check NuggetRush ($NUGX)</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy NUGX Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/render-network-faces-investor-exodus-major-institutional-holder-dumps-entire-rndr-holding/" rel="noopener noreferrer nofollow">Render Network Faces Investor Exodus: Major Institutional Holder Dumps Entire RNDR Holding</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Render Network Faces Investor Exodus: Major Institutional Holder Dumps Entire RNDR Holding

Obsah

CaptainAltcoin

Ďalšie články zverejnené 14. 2. 2024

XRP Lawyer Slams 'Fake Satoshi' Craig Wright for Historical Blunder

Crypto-Backed PAC Targets Rep. Porter in California Senate Bid

Google Announces New AI Hub in France to Propel Tech Innovation

Explore How to Purchase SingularDTV: A Blockchain-Powered Content Platform

Altcoins to Buy in Preparation for Spring of 2024: Optimism (OP), NEAR Protocol (NEAR), KangaMoon...

SEI and SUI Reach All-Time Highs: A Technical Analysis

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!